Bitget Restarts Withdrawals as 3,215 BTC Leaves Protection Fund

  • Bitget has reopened Bitcoin withdrawals and is restoring other assets sequentially, with Ether scheduled for Sept. 29.
  • The BTC protection fund transferred 3,215.28 BTC, valued at about $266 million, leaving 2,284.71 BTC on-chain.
  • About 13 hours had passed since the latest Bitget hot-wallet transfer, while USDT availability and network status remained incomplete.

Bitget is restoring withdrawals sequentially by asset after a third-party vulnerability, with Bitcoin withdrawals open and Ether withdrawals scheduled for Sept. 29. The exchange's BTC protection fund originally held 5,500 BTC; 3,215.28 BTC, valued at about $266 million, has flowed out, leaving 2,284.71 BTC on-chain, according to on-chain analyst Ai Yi. About 13 hours had passed since the latest transfer from a Bitget hot wallet, leading Ai Yi to suggest that the first wave of BTC withdrawal demand may have largely been processed. USDT timing and network-specific availability remain unclear, and users must verify both the asset and blockchain network before transferring. Bitget's CEO described the vulnerability as the exchange's first security incident in eight years; attackers had swapped roughly $351.6 million in stolen Ether for Bitcoin through THORChain.

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